China's CATL third-quarter profit growth slowest in nearly two years as competition intensifies
CATL reports slower third-quarter profit growth as intense competition in Chinas EV battery market weighs on earnings. Net profit rises 14.5% to 21.2 billion yuan, below estimates, while revenue grows 58.6%. CATL also unveils new heavy-duty truck batteries and plans to expand its battery-swapping network.
Net profit growth at China's CATL slowed sharply in the third quarter, hit by fierce competition in the electric vehicle battery market as China's auto sales growth cooled.Net profit at the world's largest EV battery maker rose 14.5% from a year earlier to 21.2 billion yuan ($3.17 billion), according to a stock exchange filing on Tuesday, well below analysts' estimate of a 41.2% increase based on LSEG SmartEstimate dataUS MarketsPowered ByAs on 20 Oct 2026, 01:30 AM ISTS&P 500 Top GainersWestern Digital352.21(6.09%)Datadog260.36(5.36%)Amazon.com262.45(4.98%)Palantir Technologies194.15(4.36%)Gainers»S&P 500 Top LosersCoterra Energy32.56(-8.62%)Mosaic17.92(-4.78%)NRG Energy99.38(-4.21%)Ameriprise Finl480.41(-4.07%)Losers»The third-quarter net profit growth, which follows a 36.5% rise in the second quarter, is the slowest in nearly two yearsRevenue climbed 58.6% year-on-year to 165.2 billion yuan, undershooting forecasts for a 60.2% increase, after growing 56.9% in the previous quarter.
